Rigel Pharmaceuticals price target raised to $55 from $49 at Citi

Citi analyst Yigal Nochomovitz raised the firm’s price target on Rigel Pharmaceuticals (RIGL) to $55 from $49 and keeps a Buy rating on the shares. The firm says the company has “quietly but deliberately built a solid commercial franchise” over the past three years. The triad of Tavalisse, Rezlidhia plus the more recently acquired Gavreto is emerging with a near $200M in collective sales for 2025, the analyst tells investors in a research note. Citi believes that business alone supports a valuation of $45 per share, or 131% upside from current levels. Rigel’s pipeline “also has many interesting features,” adds the firm.